§36-7-1. Definitions
In this article: (1) "Adult" means an individual who has attained the age of twenty-one years.
§36-7-10. Single Custodianship
A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this article by the same custodian for the benefit of the same minor constitutes a single custodianship.
§36-7-11. Validity and Effect of Transfer
(a) The validity of a transfer made in a manner prescribed in this article is not affected by: (1) Failure of the transferor to comply with subsection (c), section nine concerning possession and control;
§36-7-12. Care of Custodial Property
(a) A custodian shall: (1) Take control of custodial property;
§36-7-13. Powers of Custodian
(a) A custodian, acting in a custodial capacity, has all the rights, powers and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers and authority in that capacity only. (b) This section does not relieve a custodian from liability for breach of section […]
§36-7-14. Use of Custodial Property
(a) A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (i) the duty or ability of the custodian personally or of any other […]
§36-7-15. Custodian's Expenses, Compensation, and Bond
(a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (b) Except for one who is a transferor under section four of this article, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. […]
§36-7-16. Exemption of Third Person From Liability
A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: (1) The validity of the purported custodian's […]
§36-7-17. Liability to Third Persons
(a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether […]
§36-7-18. Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian
(a) A person nominated under section three of this article or designated under section nine of this article as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not […]
§36-7-19. Accounting by and Determination of Liability of Custodian
(a) A minor who has attained the age of fourteen years, the minor's guardian of the person or legal representative, an adult member of the minor's family, a transferor or a transferor's legal representative may petition the court (i) for an accounting by the custodian or the custodian's legal representative; or (ii) for a determination […]
§36-7-2. Scope and Jurisdiction
(a) This article applies to a transfer that refers to this article in the designation under subsection (a), section nine, by which the transfer is made if at the time of the transfer, the transferor, the minor or the custodian is a resident of this state or the custodial property is located in this state. […]
§36-7-20. Termination of Custodianship
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of: (1) The minor's attainment of twenty-one years of age with respect to custodial property transferred under section four or five of this article;
§36-7-21. Applicability
This article applies to a transfer within the scope of section two made after its effective date if: (1) The transfer purports to have been made under the West Virginia Uniform Gifts to Minors Act; or
§36-7-22. Effect on Existing Custodianships
(a) Any transfer of custodial property as now defined in this article made before the effective date of this article is validated notwithstanding that there was no specific authority in the West Virginia Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from that source at […]
§36-7-23. Uniformity of Application and Construction
This article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this article among states enacting it.
§36-7-24. Short Title
This article may be cited as the "West Virginia Uniform Transfers to Minors Act."
§36-7-3. Nomination of Custodian
(a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words:"As custodian for ______________ (name of minor) […]
§36-7-4. Transfer by Gift or Exercise of Power of Appointment
A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to section nine of this article.
§36-7-5. Transfer Authorized by Will or Trust
(a) A personal representative or trustee may make an irrevocable transfer pursuant to section nine of this article to a custodian for the benefit of a minor as authorized in the governing will or trust. (b) If the testator or settlor has nominated a custodian under section three of this article to receive the custodial […]